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$3500 tax credit for pets

On Fox News this morning there was quite a discussion on the fact that a bill has been introduced in Congress to grant a $3,500 tax credit for pets to offset the cost of providing for the pets.

Personally, I don't think it will pass ... and, frankly, I hope it doesn't. If each of the 52 million pet owners received the tax credit of $3,500, it was mean an additional $3.5 billion loss to the U.S. Treasury when we are facing the largest deficit in history.

But to be honest, that is not my major reason for fear of this bill. I honestly believe if one digs deep enough you will find it is being sponsored by H$U$ supporters. I don't know for a fact and have not had a chance to verify my feelings.

The timing, the amount, the guise of "helping" pet owners does not ring true to me. What does ring true is that after a Federal Court reiterated that dogs are personal property (Louisville Kennel Club recent ruling), H$U$ has found a way to circumvent the Courts and presented a potential for removing pets as personal property and make the owners "guardians". The amount is high enough to be attractive (especially when you consider a parent of a child can only take a $1,000 credit per child) to garner support of the public and owners of pets, in particular.

Once a tax credit is established, the next step would be for H$U$ to claim we should all be named "guardians" to protect the investment of the US Government in our pets I can see this "gift" opening all kinds of doors, each of which will come with it's own "string" probably suggested by H$U$ to one of its friends in Congress.

Please take the time to tract down the bill and speak to your Senators and Representatives to understand how they see the bill. Give them your input after studying the proposal.

HR 3501 sponsored by Republican Congressman Thaddeus McCotter from Michigan, would provide a tax deduction (not credit) of up to $3500 for expenses incurred for care of a pet. The bill has be co-sponsored by two Democrats: Steve Cohen of Memphis, TN, and Jared Polis in Colorado. The bill was introduced in July, and referred to Ways & Means (normal for all tax bills) where nothing has happened. In September, McCotter sent out as letter to all members of Congress trying to get more co-sponsors. The formal name of the bill would be the Humanity and Pets Partnered Through the Years (HAPPY) Act (blechhh!). It would apply to general expenses of pet maintenance, but not pet purchase. Deductions would not be permitted for animals owned in conjuction with a business or trade or for which a tax deduction had otherwise been claimed as a business expense (i.e., breeding stock would not count).

I don't think this has any chance of passing, simply because it would be expensive and is stupid, but who knows......

HR 3501 sponsored by Republican Congressman Thaddeus McCotter from Michigan, would provide a tax deduction (not credit) of up to $3500 for expenses incurred for care of a pet. The bill has be co-sponsored by two Democrats: Steve Cohen of Memphis, TN, and Jared Polis in Colorado. The bill was introduced in July, and referred to Ways & Means (normal for all tax bills) where nothing has happened. In September, McCotter sent out as letter to all members of Congress trying to get more co-sponsors. The formal name of the bill would be the Humanity and Pets Partnered Through the Years (HAPPY) Act (blechhh!). It would apply to general expenses of pet maintenance, but not pet purchase. Deductions would not be permitted for animals owned in conjuction with a business or trade or for which a tax deduction had otherwise been claimed as a business expense (i.e., breeding stock would not count).

I don't think this has any chance of passing, simply because it would be expensive and is stupid, but who knows......